New Market Report: International Oil Companies are Restructuring their Business to Increase the Focus on the Upstream Sector
The increasing focus on the upstream sector has prompted business restructuring for International Oil Companies (IOCs) in the past two years. Increasing capital expenditure in the upstream sector, competition between pure-play exploration and production (E&P) companies and IOCs, and the decreasing number of oil and gas discoveries in the past few years are some of the main reasons that prompted IOCs to focus more on the upstream sector. Already, ConocoPhillips Company and Marathon Oil Corporation have spun-off their downstream businesses...
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